Global Multifunctional Printer Market

Multifunctional Printer Market Summary

The Global Multifunctional Printer Market Size Was Estimated at USD 30.21 Billion in 2024 and is Projected to Reach USD 61.52 Billion by 2035, Growing at a CAGR of 6.68% from 2025 to 2035. The market for multifunctional printers (MFPs) is expanding as a result of consumers' growing desire for affordable, compact, and integrated machines that encompass printing, scanning, copying, and faxing capabilities.

Key Regional and Segment-Wise Insights

• In 2024, Asia Pacific held the greatest revenue share of 31.5%, dominating the multifunctional printer market.
• With the highest revenue share of 53.7% in 2024, the laser multifunctional printer segment dominated the market by type.
• In 2024, the monochrome segment held the biggest market revenue share by output type.

Global Market Forecast and Revenue Outlook

• 2024 Market Size: USD 30.21 Billion
• 2035 Projected Market Size: USD 61.52 Billion
• CAGR (2025-2035): 6.68%
• Asia Pacific: Largest market in 2024

The multifunctional printer (MFP) market targets the printing industry segment, which distributes devices that perform multiple functions through printing and scanning and copying, and faxing operations. The space-efficient design and operational effectiveness of MFPs make them popular tools for use in business offices, as well as educational settings and government facilities, and small business environments. The industry growth is driven by rising demand for centralized, affordable document management systems, particularly within remote and hybrid work environments. Office equipment that operates with energy efficiency, along with business process digitization and workflow automation growth, fuels the market expansion. Small and medium-sized businesses around the world have increased their use of affordable compact MFP devices because of their growing numbers.

The market for multifunctional printers is significantly influenced by technological developments. Modern MFPs present cloud connection capabilities and wireless connectivity, together with mobile printing support and advanced security protocols to prevent data breaches.  AI, together with IoT, enables predictive maintenance along with improved user experience through its integration into printing solutions.  The demand for environmentally friendly MFPs receives indirect support because regional governments back digital transformation initiatives and paperless workflows, and sustainable office solutions. Public sector investments in administrative digitization programs, together with education, lead to increased purchases of multipurpose devices.

Type Insights

The laser multifunctional printers segment dominated the multifunctional printer market by capturing the largest revenue share of 53.7% in 2024. Laser MFPs achieve market dominance through their fast printing speeds combined with low printing costs and exceptional output quality, which fits well for large-scale printing environments, including offices and government facilities, and big corporations. The long-term reliability of these devices, along with minimal maintenance needs and extended toner cartridge lifespan, contribute to cost savings and enhanced operational efficiency. The market leadership of laser MFPs remains strong because manufacturers continue to develop energy-efficient laser printing technology and implement wireless and cloud-based integration, which maintains their appeal in both developed and emerging markets.

The LED multifunctional printer segment will experience the fastest CAGR throughout the forecast period in the multifunctional printer market. The market growth of LED printing technology occurs because it provides superior benefits compared to traditional laser printers, which include smaller size and reduced energy consumption and quieter operation, and fewer moving parts. The office environment and small to medium-sized enterprises prefer LED MFPs because they deliver consistent picture quality and fast first-page printing at an affordable price. The demand for LED multipurpose printers will surge dramatically because people are becoming more environmentally conscious and energy-conscious. The adoption of LED multifunctional printers has increased across multiple industries because of technological progress and lower costs.

Output Type Insights

The monochrome segment held the largest revenue share in 2024 in the multifunctional printer market. The market maintains its leadership position because monochrome MFPs require less maintenance while delivering faster printing speeds at lower costs than color models. Organizations, including businesses, educational institutions, and government entities, choose monochrome multipurpose printers when black-and-white document printing in large volumes becomes essential. The devices excel at handling typical printing assignments, including reports, invoices, and administrative documents, because they offer both reliability and cost-effectiveness.  Monochrome MFPs continue to receive strong market demand because of ongoing improvements in print quality and energy efficiency, which target high-volume printing requirements and organizations with limited budgets.

During the forecast period, the multifunctional printer market's color segment is expected to experience the fastest CAGR growth. The quick expansion occurs because industries including marketing and education, and healthcare, together with the creative sector, require high-quality, vivid color printouts. Color MFPs have become essential tools for producing professional documents and marketing materials that require vibrant images. Modern improvements in inkjet and laser color printing technology have lowered the cost of color multifunctional printers for small and medium-sized businesses because of increased print speed and quality, and cost-efficiency. The worldwide acceptance of color MFPs continues to grow because of digital content creation advancements and office supply requirements for color and black and white printing.

Regional Insights

During the forecast period, the North American multifunctional printer (MFP) market is expected to grow significantly. The quick digital transformation of industries in this region, combined with rising document management needs and widespread adoption of hybrid work systems, serves as the main expansion driver. Businesses allocate more funds toward advanced MFPs with cloud integration capabilities, along with wireless networking and mobile printing functions to enhance office efficiency. The market expands because of robust IT infrastructure, together with major technology suppliers, and the increasing popularity of smart office solutions. Government programs promoting paperless operations, along with environmentally friendly office spaces, drive the North American market expansion for high-performance energy-efficient multifunction printers.

Europe Multifunctional Printer Market Trends

The multifunctional printer (MFP) market in Europe is projected to grow at a significant CAGR because of the rising demand for sustainable and efficient office infrastructure in public and commercial organizations. The multifunctional printers equipped with printing, scanning, copying, and faxing features gain increasing significance because organizations transition towards digital workflows and hybrid workspaces. European organizations are driving the adoption of multifunctional printers with advanced security features because they pay heightened attention to data protection and regulatory requirements. The market growth of small, low-emission printers receives support from growing environmental concerns and government support for sustainable energy-efficient technology solutions. The market growth in the region continues because of leading manufacturers who establish their presence and ongoing investments in smart office infrastructure.

Asia Pacific Multifunctional Printer Market Trends

Asia Pacific leads the multifunctional printer market by holding the largest revenue share of 31.5% in 2024. The leadership position stems from three main factors: dynamic manufacturing operations, rapid urban development, and expanding small to medium business presence throughout the region. China, together with Japan and South Korea, and India, represents the main drivers because they experience industrial digitization and require cost-effective compact office equipment. Organizations, along with government institutions and educational institutions, continue to use multifunctional printers for improved document processing operations. The area benefits from both major printer manufacturing facilities and continuous technological advancements in printing equipment. The leading market position of the Asia Pacific becomes stronger because of affordable pricing and expanding IT infrastructure, and expanding business sectors.

Key Multifunctional Printer Companies:

The following are the leading companies in the multifunctional printer market. These companies collectively hold the largest market share and dictate industry trends.

• Brother Industries, Ltd.
• Toshiba TEC Corporation
• Canon Inc.
• Seiko Epson Corporation
• Lexmark International, Inc.
• Ricoh
• Sharp Corporation
• HP Development Company, L.P.
• Konica Minolta, Inc.
• Xerox Corporation
• Others

Recent Developments

• In March 2025, HP introduced the Color LaserJet Enterprise MFP 8801 and Mono MFP 8601, which are based on a new ASIC processor that uses cryptography that is resistant to quantum errors.  Using post-quantum digital signatures to confirm firmware integrity, these printers are the first in the printing industry to safeguard print fleets against potential quantum-computer attacks.
• In March 2025, Canon revealed CVE-2025-1268, a serious buffer-overflow flaw in its Generic Plus PCL6/UFR II/LIPS print drivers, which are utilized by office and production MFPs.  In order to reduce the danger of exploits and stop illegal code execution, Canon published driver updates (version 3.15 and later) for all impacted models.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the multifunctional printer market based on the below-mentioned segments:  

Global Multifunctional Printer Market, By Type

• Laser Multifunctional Printer
• Inkjet Multifunctional Printer
• LED Multifunctional Printer
• Solid Ink Multifunctional Printer
• Thermal Multifunctional Printer

Global Multifunctional Printer Market, By Output Type

• Monochrome
• Color

Global Multifunctional Printer Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa